Rodgers Brothers Inc. Cuts Holdings in Copart, Inc. (NASDAQ:CPRT)

Rodgers Brothers Inc. decreased its position in Copart, Inc. (NASDAQ:CPRT) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,204 shares of the business services provider’s stock after selling 1,000 shares during the period. Rodgers Brothers Inc.’s holdings in Copart were worth $1,102,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Norges Bank bought a new position in Copart in the 4th quarter valued at $682,089,000. Madison Investment Advisors LLC purchased a new position in shares of Copart in the 4th quarter worth about $253,686,000. Bank of New York Mellon Corp grew its position in Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after buying an additional 3,667,534 shares during the period. Franklin Resources Inc. increased its holdings in Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after buying an additional 2,084,626 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Copart by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider’s stock worth $812,488,000 after acquiring an additional 1,785,741 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Copart Price Performance

NASDAQ:CPRT opened at $55.15 on Monday. The company has a market cap of $53.28 billion, a P/E ratio of 37.01 and a beta of 1.30. The stock’s fifty day moving average price is $56.33 and its two-hundred day moving average price is $56.23. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. On average, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In related news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 385,480 shares of company stock valued at $21,667,683. 9.68% of the stock is currently owned by corporate insiders.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.